GBPUSD H4: Ascending Channel Still Guiding PriceGreat British Pound vs US DollarCFI:GBPUSDCFIGBPUSD continues to trade within a rising channel, with higher lows maintaining the broader upward structure. The overall formation remains intact despite recent softer price action. Pullback From Upper Channel Area Price has recently moved lower from the upper portion of the channel and is now trading around 1.3440–1.3450. The move appears gradual, with no sharp expansion in downside momentum. Resistance Holding Above The 1.3550–1.3570 region remains a clear resistance zone, where price previously stalled. This area continues to define the upper boundary of recent price attempts. Support Levels Becoming Relevant The 1.3400 area is now coming into focus as near-term support, with the lower channel boundary positioned further down near 1.3340–1.3350. Value Area Around Current Price Volume profile shows a concentration of activity near 1.3400–1.3450, indicating that price is trading within a key value zone where prior transactions have been clustered. Momentum The RSI has moved back toward the mid-range around 47–50, suggesting that momentum has eased from previous highs and is now more balanced. Summary GBPUSD remains within an ascending channel but is currently drifting lower from recent highs toward the 1.3400 area. Resistance remains defined overhead, while support levels below are becoming more relevant. Price action and momentum both reflect a moderation phase within the broader rising structure.